Simbi Wabote

The Nigerian Content Development And Monitoring Board (NCDMB) yesterday disclosed that local content in the oil and gas sector grew from 26 per cent to 54 per cent in the last five years, a rise by about 107 per cent during the period. Speaking during the opening of the 2023 edition of the annual Nigerian Oil And Gas (NOG) Energy Week in Abuja, the Chief Executive of the NCDMB, Mr Simbi Wabote, noted that between 2017 and 2022, Nigerian companies’ participation in the industry rose from 26 percent to 54 percent. The law setting up the board was passed in 2010 by the Goodluck Jonathan government, following the seeming domination of the sector by expatriates. The organisation was thereafter charged to ensure the domiciliation of activities in the sector. At an event themed: “Powering Nigeria’s Sustainable Energy Future”, Wabote stated that the organisation has given effect to the provisions of the law by launching the 10-year strategic roadmap in 2018 to drive the attainment of 70 percent Nigerian content in the Nigerian oil and gas industry by 2027.

THISDAY